[Funding alert] Groww enters unicorn club after latest $83M fundraise
Tiger Global led the round, and existing investors such as Sequoia India, YC Continuity, Ribbit Capital, and Propel Venture Partners participated as well. The startup said it will use funds from the current round to expand its product suite, hire talent, and invest heavily in financial awareness aimed at millennials. The Groww team"Only around 25 million people in India are investing in stocks or mutual funds. Still quite nascent in India, retail investing in stocks, mutual funds, bonds, and IPOs is picking up thanks to educational initiatives some of the online investing platforms have undertaken. This week, Meesho, CRED, and PharmEasy, also joined the unicorn club following new fundraises.